Labour has been accused of 'punishing' drivers during their administration, according to the founder of the FairFuelUK campaign. Howard Cox, Founder of FairFuelUK, stated that his campaign predicted in March that inflation would inevitably rise by 0.3% to 3.3%, which it now has.
Cox added that 'the extra VAT windfall to the Treasury from soaring pump prices is just short of £300 million.' He further noted that 'the total paid by drivers to fill up at the pumps, including the double taxation in the same period, has been an extra £1.8 billion.'
Looking ahead to the upcoming Autumn Budget, Cox warned that 'Labour is set to unwind the positive effects of 16 years of fuel-duty freezes by reversing Rishi Sunak's 2022 5p per litre cut in Fuel Duty.' He is urging the Treasury to 'wake up' and cut fuel duty, along with scrapping the 'dishonest' double taxation of VAT on fuel duty. Cox wants the government to 'announce they will stop their planned 5p increase in the Autumn Budget.'
This comes after the Department for Energy Security and Net Zero said it could 'neither confirm nor deny' if secret briefings had taken place regarding the rise in fuel prices. The response has sparked panic buying fears, with such an evasive reply typically associated with national security matters.
The Press Association issued a freedom of information request, but the department claimed that acknowledgement could lead to 'mass purchasing' at the pumps. The department stated: 'The department considers that confirming or denying that information is held would cause instability and economic damage to the wider economy. UK petrol and diesel prices, and financial markets more broadly, are very sensitive to the release of any information that relates to factors affecting UK retail fuel prices. Confirming or denying that information is held relating to factors affecting fuel prices would cause widespread concerns over security of supply and lead to the mass purchasing of fuel, further distorting fuel prices and putting strain on fuel supply chains. This information would also impact the internationally traded crude oil price, causing volatility in UK financial markets and impacting inflation.'
